Chronic diseases take up a huge portion of the budget. Many do receive good research funding (heart disease, diabetes) but I think that many do not, with ME being one of the least funded.
There is also a reflexive presumption that the underlying causes are understood. I am not convinced they are. To quote an actor quoting Sun Tzu: Knowledge precedes victory, ignorance precedes defeat.
Chronic disease is on the rise, and its not all due to aging or lifestyle factors. We need better, cheaper ways of dealing with this.
One of the issues we have is that a lot of the research has moved to managing chronic conditions. That is important, but basic research into mechanisms are necessary or the only breakthroughs in treatment that will occur will be by chance discovery.
To cut costs there are two approaches. This article deals with better services to target individuals in need. The other one often favoured in politics is to cut costs by triaging patients more, limiting services, and denying care. Problems do not go away when you do that, they often get worse and can wind up costing more.
We need a global research agenda. You don't solve massively complex problems by being excessively cautious and reasoning from ignorance.